This Act makes provision for the administration of payments of royalty under the Mineral and Petroleum Resources Royalty Act, 2008 to be made by persons registered with the Commissioner for the South African Revenue Service under this Act. A person qualifies for registration in terms of this Act if that person: (a) holds a prospecting right, retention permit, exploration right, mining right, mining permit or production right granted pursuant to the Mineral and Petroleum Resources Development Act or a lease or sublease mentioned in section 11 of the Mineral and Petroleum Resources Development Act in respect of such a right; or (b) wins or recovers a mineral resource from within the Republic. The Act provides for payments to be made by registered persons in respect of estimated annual royalty due and requires a registered person to retain such records as are necessary to satisfy the requirements of this Act and the Mineral and Petroleum Resources Royalty Act, 2008.
Южная Африка · 2008-11-21